Bulls n Bears Investors Notebook Issue 131:07 November 2018

Wed Nov 7 09:47:07 CAT 2018

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Bulls n Bears Investors Notebook Issue 131:07 November 2018

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Bulls ‘n Bears Investors Diary: Today’s Events

Quotable Quote:

Relations are all about: Winning, Losing & Sharing.
Winning Trust, Losing ego

Ncube to present 2019 budget on November 22

FINANCE minister Mthuli Ncube has said he will present his maiden budget
statement on November 22, in what will be a litmus test of how he will
address Zimbabwe’s economic crisis. Shortages of basic commodities, hard
currency and falling purchasing power of wages are among some of the
challenges facing the southern African country. “It (the budget
presentation) is on November 22,” Ncube told NewsDay on Monday.
Confederation of Zimbabwe Retailers principal economist Clemence Machadu
said the 2% tax on electronic transactions should be set aside as it is
adding insult to injury on people already failing to cope with their
diminishing disposable incomes.  <http://www.bulls.co.zw/> Read more »

Trade deficit narrows to $127m   

Zimbabwe’s negative trade balance narrowed markedly in August this year,
falling 42 percent to $127,2 million on the back of strong growth in
exports, the Reserve Bank of Zimbabwe (RBZ) said in its monthly economic
review for August. This came as overall merchandise trade increased 14
percent, from $900,3 million in July 2018 to $1,026 billion in August 2018.
The RBZ said trade was underpinned by growth in both merchandise exports and
imports but with growth in exports higher than growth in imports.
<http://www.bulls.co.zw/> Read more »

 <http://www.firstmutualproperties.co.zw/> 

For more business & financial updates log onto <http://www.bulls.co.zw/>
www.bulls.co.zw

‘Zimbabwe could be gateway to investment’   

Zimbabwe could be the gateway to investment into Africa through
establishment of an Offshore Investment Centre with strong links to the
local one-stop investment shop for processing investments. The Minister of
Finance and Economic Development, Professor Mthuli Ncube, said this dream
was part of the country’s Vision 2030 and the recently launched Government
blue-print, the Transitional Stabilisation Programme (TSP). His sentiments
were inspired by a visit last Friday to Surface Wilmar based in Chitungwiza,
Harare. The company is owned by one of the largest companies in the world in
the production of edible oils, based in Singapore. <http://www.bulls.co.zw/>
Read more »

Zim on course to record gold delivery   

Zimbabwe is on course to achieving record breaking gold deliveries this year
with the set target of 34 tonnes for the year expected to be surpassed.
Speaking at the official send-off of the gold mobilisation task-force on
Sunday, Mines and Mining Development Minister Winston Chitando implored
members to double their efforts in cabbing gold leakages and said their
activities over the last few months have led to an up sage in gold
deliveries. The national gold mobilisation task-force is mandated to make
sure that all the gold produced in the country goes into the formal channels
and is comprised of officials from the Ministry of Mines and Mining
Development, the Zimbabwe Defence Forces and the police.
<http://www.bulls.co.zw/> Read more »

Chinamasa sucked into Chivayo scam

FORMER Finance minister Patrick Chinamasa was yesterday named as the
official who advised Zimbabwe Power Company (ZPC) to raise $5 million to pay
businessman, Wicknell Chivayo for the Gwanda Solar project feasibility
studies. Former ZPC managing director Noah Gwariro said this while
testifying during the trial of former Energy minister Samuel Undenge who is
facing criminal abuse of office charges. Gwariro said after Undenge
instructed ZPC to pay Chivayo, he then approached Chinamasa who then advised
him to raise the money through CBZ Bank. <http://www.bulls.co.zw/> Read more
»

United Refineries to invest $30 million in soya bean production

AGRO-PROCESSING concern United Refineries Limited (URL), together with its
partners, says it will invest about $30 million in soyabean outgrowers’
project with a target to satisfy its demand for the edible oil seed. URL
chief executive officer Busisa Moyo told journalists in Bulawayo on Monday
that the company was targeting to put at least 7 500 hectares under the Soya
Bean Outgrower Alliance (SOBOA) initiative. “We have assembled interested
stakeholders from the financial service community to input providers, to
come and participate in this programme with a view to increasing the output
of soyabeans for the oil and stockfeed industry. That’s our primary
motivation. So far, we have registered above 1 000 hectares in terms of
farmers,” Moyo said.
<http://www.bulls.co.zw/2018/11/01/govt-raises-30m-from-airtime-tax/> Read
more »

Authentication of title in Zim: Key for prudent property investor
introduction   

Immovable property, such as houses and residential stands, is popular means
of investment in Zimbabwe. Due to our country’s economic challenges and
prevailing cash shortages, many prudent investors use property as investment
vehicles to secure their wealth. In particular, Zimbabweans in the diaspora
see investing in houses and stands in Zimbabwe as a way of ensuring they
have somewhere to land their feet if they ever return home or as a means of
earning supplemental income from rentals.  <http://www.bulls.co.zw/> Read
more »

 <mailto:info at bulls.co.zw> 

Soya Bean Farmers To Benefit As United Refineries Set To Invest $30 Million

An Agro-processing company United Refineries Limited (URL) is set to invest
in soya bean production. The company intends to invest $30 million dollars
in soyabean outgrowers’ project with a target to satisfy its demand for
edible oil and stockfeed. The URL chief executive officer Busisa Moyo said
the company is targeting to put at least 7 500 hectares under the Soy Bean
Outgower Alliance (SOBOA) initiative. He said So far, we have registered
above 1 000 hectares in terms of farmers. This is an ongoing programme. Our
target was 7 500 hectares, but due to some of the developments in the
economy, we might not be able to reach that target. We think we will be able
to get at least half of what we started with.  <http://www.bulls.co.zw/>
Read more »

Govt Still Committed To Building 1,5 Million Houses By 2023- Minister

Masvingo Provincial Affairs Minister Ezra Chadzamira said Government is
still committed to building a total of 1,5 million middle-income housing
units by 2023. He said this at the belated United Nations World Habitat Day
commemorations held at Nemamwa Growth Point last week.  The UN General
Assembly in 1985 set aside the first Monday of October for the World Habitat
Day Commemorations. This year the event ran under the theme: “Municipal
Solid Waste”. Said Chadzamira:   <http://www.bulls.co.zw/> Read more »

 <mailto:info at bulls.co.zw> 

Govt mulls sale of stake in Olivine   

GOVERNMENT is considering selling part of its stake in Olivine Industries to
an external investor to raise foreign currency towards recapitalising
operations. This was said by the Minister of Finance and Economic
Development, Prof Mthuli Ncube, yesterday during his tour of Surface Wilmer
plant, the largest cooking oil manufacturer in Southern Africa. Situated in
Chitungwiza, the company is the largest producer of edible oils in the
country and has partnered with the Government in ownership of Olivine
Industries. <http://www.bulls.co.zw/> Read more »

Packaging cost could push up mealie meal price   

The price of mealie meal could increase if tomorrow’s deliberations between
millers and packaging manufacturers fail to reach a consensus after the
latter increased cost of packaging by over 500 percent. Manufacturers of
packaging for mealie meal and bread more than doubled their prices, a
situation that is likely to see the prices of mealie meal going up from the
current average price of $5,50 for 10kg of roller meal.
<http://www.bulls.co.zw/> Read more »

ZSE suspends Hwange Colliery Company

THE Zimbabwe Stock Exchange (ZSE) Limited has suspended Hwange Colliery
Company from trading on the bourse following its placement under
administration. Last week, the Zimbabwean government — which owns 38% of
Hwange — published a Government Gazette notice, placing the mine under
administration. “The Zimbabwe Stock Exchange Limited hereby notifies the
investing public of the suspension from trading of Hwange Colliery Company
Limited with effect from November 2, 2018 following its placement under
administration in terms of the Reconstruction of State Indebted Insolvency
Companies Act. The suspension is for the duration of the administration
period,” ZSE acting chief executive, Martin Matanda, said in a statement.
<http://www.bulls.co.zw/> Read more »

Harare scouts for waste management partner

Harare City Council has tasked the town clerk Hosiah Chisango to source for
partners to turn waste into energy as the local authority seeks to increase
its revenue base from available resources. Minutes of the business committee
tabled at last week’s full council meeting state that councillors tasked
Chisango to engage potential investors in waste energy production so that a
joint venture could be entered into.  <http://www.bulls.co.zw/> Read more »

Kwesé TV pulled plug after losing court case

Econet Wireless pulled the plug on its pay satellite service, Kwesé TV last
week after losing a Supreme Court battle in which the Broadcasting Authority
of Zimbabwe (BAZ) successfully argued that it was not compliant with the
law. Kwesé TV has been broadcasting in Zimbabwe through a licence which was
awarded to Dr Dish. The High Court in September last year allowed the
operation to continue pending the challenge by BAZ, which argued that the
licence issued to Dr Dish was no longer valid after it “was cancelled by the
authority for failure by Dr Dish to provide service”.
<http://www.bulls.co.zw/> Read more »

$333 million from India. . .Hwange, Bulawayo Power Stations set for upgrades

India has extended a $333 million line of credit to Zimbabwe for the upgrade
of Hwange Thermal Power Station and rehabilitation of Bulawayo Thermal Power
Plant. Of this, $310 million will go towards the Hwange rehabilitation
programme while $23 million will be used on the Bulawayo project. This was
announced in a joint statement released at the end of Indian Vice-President
Venkaiah Naidu’s three-day working visit to Zimbabwe yesterday. VP Naidu
also announced that the Asian country would give Zimbabwe a $19.5 million
soft loan for the Deka Water Pipeline project in Hwange.
<http://www.bulls.co.zw/> Read more »

Zimbabwe looks beyond aid
Borrowing not sustainable, says Prof Ncube   

THE Minister of Finance and Economic Development, Professor Mthuli Ncube,
has said domestic resource mobilisation (DRM) must be the “lifeblood” of
development as Zimbabwe looks beyond reliance on borrowing and donor support
to finance provision of key services. Speaking on the occasion of last
week’s Zimbabwe Revenue Authority (Zimra) appreciation awards event, the
minister said the need for an improved economy, social and infrastructural
development must be driven by a sustainable DRM framework.
<http://www.bulls.co.zw/> Read more » 

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

REST OF AFRICA

Counters Trading Under Cautionary

NicozDiamond

Ariston

Barclays

Dawn

Unifreight

Hwange

RTG

Post your event (AGM, EGM, Analysts Briefing, etc) on the Investor Diary
free of charge and reach out to the market. We have annual gold prices since
1900, monthly since January 1971 and daily prices since January 2000. We
also provide historical ZSE prices on request.

DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from sources believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls ‘n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and sourced from third parties.

Invest Wisely!

Bulls n Bears 

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